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Status:
"“If a thing loves, it is infinite.”"
(set 5 days ago)
Location: Great Britain
27,189 posts, read 13,477,157 times
Reputation: 19519
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Quote:
Originally Posted by Kracer
Agreements are dynamic and made to accommodate current economic fluctuation. It would be idiotic to maintain a position based on old data, especially if it was a disadvantage to you.
The one way profit, enjoyed by our partners, has come due and they don't want to pay.
America will never be excluded as a trading partner. If the world is reluctant to halt trade with Iran and NK, Russia energy supplies to EU and China, it is doubtful their greed will allow them to isolate the US.
Nobel laureates, with the gravitas of Obama and Gore and the Climate change panel at the UN ? Economists are in constant disagreement, even those from Harvard. Pick a side on which stands your favorite Harvard economist.
Quote:
Originally Posted by BigCityDreamer
I take it that these “economists” would explain that the slow death of U.S. manufacturing jobs was inevitable because of globalization, and there was nothing we could have done about it.
I think it is better to call these people traitors rather than economists.
The US has moved from an industrial economy to a service and Trump's deficit is only based on manufactured goods and not services that account for 80% of the US Economy.
Most advanced economies have seen a shift from manufacturing to service economies, and even the manufacturing that remains tends to be more high end and technology based rather than the low end cheap clothing and other cheap products made in China and the other emerging economies. Furthermore traditional industries like steel are now increasingly automated and Trump's promises in relation to coal also don't stack up at a time when other fuel sources are cheaper, more economical and more environmantally friendly.
US shops rely on these goods, in order that the US Consumer can fill their shopping bags very cheaply.
To manufacture the same good in the US would cost much more, and the recent steel and aluminium tariffs will already make US goods more expensive.
So any tariff on Chinese goods will just push up prices of goods in American shops causing higher rates of inflation, whilst retaliatory tariifs by the worlds major economies against the US will merely lead to less US goods being sold and as a result unemployment.
In the end it's the ordinary working consumer that pays the price, both at the checkout till and in relation to job losses.
Very few economists support protectionism as opposed to free trade, and we have rules in place in relation to free trade such as the WTO, and any disagreements should be dealt with by the WTO and not via ill thought out trade wars that will simply punish hard working people.
One of the most cited and respected books on the subject remains the Wealth of Nations which was first published in 1776 by Scottish economist, philosopher and author Adam Smith.
Tge economist and other pubications have even compared and contrasted Smith's view with that of Trump.
Well said! He's no longer part of the team. He stood in front of the media this morning, after skipping the breakfast meeting, and said stupid gibberish before running away with his tail between his legs. Although people in the USA accept his lies and contradictory nonsense, and they seem proud of his disgraceful conduct, the USA chair in global conversations and decisions is now an empty seat.
He didn’t skip the breakfast - he was 17 minutes late and Justin thought it was cute to start without the President of the United States.
During that 17 minute delay, Trump responded to the attack on US Soldiers in Somalia and the death of one of them. We might call this a Security Briefing that was more important than getting to breakfast on time.
Then is not free trade...you can't put a 270% tariff on our products and call it protection and then cry and complain when we do it to your products coming in our country.
What is Trump supposed to tell our farmers? "sorry folks, Canada only has 35 million people so they get special treatment over you, sucks to be you...by the way, vote for me in 2020, I broke my promises"....
Exactly! You nailed it perfectly.
This whole thing boils down to liberals being deathly afraid of confrontation. They'd rather we bend over and take it from our allies, so as to not ruffle any feathers with anyone...
Ptrsident said it clearly in his speech at the G-7 (+ the 2 EU Presidents they shoehorned into the meeting) - “The USA is not going to be your Piggy Bank anymore.”
Wealth distribution requires a host. Since the end of World War II the U.S. has been a bottomless treasury for EU subsidy. The payments have been direct and indirect. The indirect have been via U.S. military bases providing security, and also by U.S. trade policy permitting one-way tariff systems. Both forms of indirect payment are now being reversed as part of the modern Trump Doctrine.
He didn’t agree to, or sign their Statement. More than that - they knew he wouldn’t but claimed he did.
He let the World know he didn’t. Now they can all go back home and tell their Governments “ the gig is up” - which President Trump also said during his Statement.
More equality in Tariffs is what Trump demanded - MONEY, and Banking is his Leverage and they know it.
Trudeau never stated otherwise and I give him credit for not responding to Trump. It show more fortitude if Trump could make his statements in meetings rather than via Tweets on his departing aircraft. Trump always "has to let the world know", he sounds amateurish.
I a am all for fair trade and addressing tariffs where disproportionate but it appears they were having little impact on the American economy. So he walked away and the status quo remains short of violating our agreement. He may as well shouted out the window "I'm madder than hell and I'm not going to take it anymore", for all the good it does.
Quote:
A few hours earlier, Mr. Trudeau said the seven nations had reached broad agreements on a range of economic and foreign policy goals. But he acknowledged that deep disagreements remained between Mr. Trump and the leaders of the other nations, especially on trade.
Mr. Trudeau had sought to play down personal clashes with Mr. Trump as he wrapped up the summit, calling the meeting “very successful” and saying he was “inspired by the discussion.” But he also pledged to retaliate against the United States tariffs on steel and aluminum products in defense of Canadian workers.
He didn’t skip the breakfast - he was 17 minutes late and Justin thought it was cute to start without the President of the United States.
During that 17 minute delay, Trump responded to the attack on US Soldiers in Somalia and the death of one of them. We might call this a Security Briefing that was more important than getting to breakfast on time.
If Trump was even a fraction as good as he claims we wouldn't be in Somalia.
Yes, embarrassing, and damaging to the US. He seems hell bent on taking us down.
imho he's just getting started in resetting the boundaries. bear in mind that people are not used to a man with his breadth of business acumen and force of personality.
Pretty cool to watch him play the game actually.....
Throughout his remarks on Saturday, Mr. Trump repeatedly returned to his broader complaints about trade practices around the world, insisting that it was the fault of past American leaders who had agreed to deals that benefited other countries more than the United States.
He complained that American dairy farmers were being treated unfairly by Canada.
“The United States pays tremendous tariffs on dairy, as an example, 270 percent,” he said. “Nobody knows that.”
“We don’t want to pay anything,” he said. “Why should we pay?”
The president also said American farmers had been hurt for a long time by trade barriers that made it harder for them to sell their goods to other countries.
“You look at our farmers,” he said. “For 15 years, the graph has gone just like this: down.”
“I blame our leaders,” Mr. Trump said. “In fact, I congratulate the leaders of other countries for so crazily being able to make these trade deals that were so good for their country and so bad for the United States. But those days are over.”
What good is cheap goods if the country loses billions of trade dollars every year?
The bolded demonstrates Trump know absolutely nothing about the things he is dealing with.
Last edited by Finn_Jarber; 06-10-2018 at 06:59 AM..
Another boorish performance by Donald Trump. He can't get along with other leaders and leaves the party only to cry and whine like a little girl afterward. There is absolutely no doubt we are witnessing the most immature and childish petulant president in all of US history. It is a very sad spectacle.
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Most childish petulant president.
